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CDI Corp. (NYSE: CDI) posted a 2.2% decline in second-quarter revenue to $289.2 million from $295.7 million in the same period last year.
The company said revenue was relatively flat when accounting for $300,000 in real estate exit costs in the second quarter and a $400,000 reduction in income tax expenses in 2007.
Second-quarter revenue rose 0.4% to $153.1 million in CDI's engineering solutions division; dipped 0.5% to $19.4 million in its Management Recruiters International unit; and fell 6.6% to $56.5 million in its IT solutions unit, which includes information technology services and staffing. In the company's AndersElite division, which provides temporary workers in the
Gross margin slipped to 23.4% from 24.3%
Second-quarter net income fell 16.2% to $7.0 million from $8.3 million in the second quarter of 2007.
The company estimated third-quarter revenue to be slightly down or flat year-over-year.
CDI Corp. (NYSE: CDI)
For the second quarter ended June 30, 2008, compared with the same period in 2007.
Revenue: $289.2 million, -2.2%
Net income: $7.0 million, -16.2%